All Forum Posts by: Duc Ta

Hi,

I have few tax deed and tax liens in other state. I want to expand my portfolio. According to my research, tax deed in california can grant immediately possession to new owner without probate period like other states. Any comments or partnership

Hi,

I found some good land near the line and water source. My thinking is trying to build an apartment complex then sell it to investors or buyers. I’m thinking about 3D home building printing or normal construction company. Do you know how much does it cost to build one especially in California? What is the pros and cons for these type of construction? How i can get out a loan? So sorry that i’m a noob in this type of thing? I do invest in properties bt i never try about construction? Any help, advice and ideas

I also have a tax question. What happens if i have personal issue that i move to another countries. How i can keep up with my property portfolio? What is the tax laid out? Should i apply for ein if i create llc?

Quote from @John Underwood:

Do you plan on filing for bankruptcy?

Are you not going to take care of your properties, so you are likely to get sued for being negligent?

It also sounds like you have mortgages on these properties so that is one layer of protection.

Normal insurance, another layer of protection.

You could add an umbrella policy for a third layer.

Once you start paying off properties then you could start moving these to an LLC.

Take care of your properties and your tenants and it will be unlikely you get into any trouble.

I would be less inclined to BRRR if you have good interest rates on your current rentals.

Instead ask for owner financing or subject to deals.  

Hi,

I don’t intend to file for bankruptcy. Just have general idea to make prevention. Is it better to prevent than to cure it? Right now, i only have one mortgage which is my home. The other investment has already paid off. That is why i’m thinking brrrr. Bt not now. The rate is hike so far. Also i’m not qualified atm for refinancing due to high utilization. Need to cool it down for 1-2 years

Quote from @Dave Foster:

@Duc Ta, Unfortunately the 1031 exchange that you're referring to is only available to sell investment real estate and buy new investment real estate.  You can't sell real estate and buy cars with a 1031.

Now if you needed to buy a garage or storage facility for your cars that would work fine with a 1031.

 Sorry for long time reply. My next question is that can i use the money i sell for 1031 exchange concurrently with hummer loophole or i cannot. As far as my understanding, hummer loophole let you write off an expenses for car that is heavy and costly (correct me if i’m wrong)

Hi,

Have a stupid question. For example, you have 4 properties. Now you want to do BRRRR with 2 properties with a refinancing cash out. Now my question (sorry if i'm noob). How to structure or create an entity that you only loss those 2 properties while keeping the rest in your name if something bad happens such as bankruptcy. Coz i know that once you file bankruptcy chapter 11. They will liquidate your assets. If the assets meet the amount they need then they won't touch the others. Otherwise, they will get their hands on the others.

Now the same question apply with accidents on the property. Is getting umbrella insurance sufficient. I heard from many that you need to put each prop into an LLC entity. Bt i think it is too much process and difficult to scale coz if you get up to 50 props (for example), then you need to get 50 LLC entity. Too much

Hi,

I'm not new to investing. However, i'm still a newbie to investing into business like gas stations or laundromat. Beside the balance sheet, profit and other things, my stupid question just come across my mind as i did buy home and used to rent apartment too. From buying home and renting apartment, if the property has HOA or renting, the wear and tears outside such as roof, walls will be repaired under HOA. These are major costs. Now come to laundromat or gas station, what are those repairs belong to? Out of owner pockets or someone will do that? I saw some gas station has large number of gallons sale bt low commission which i think commission is the main way for gas sale (we know they have food sales, other things sale which are considered as inside sales and deli sales). I tried to used 20% rule for setting of the expenses for repairs, it still not much profitable not counting for the labor and other expense. Anyone can help?

Also anyone can give me tips for starting

How to avoid land theft if you invest in buying land. I heard at some states there are rule that if someone stay at the land more than 5-10 years, it automatically grant the title to that person even though he might be a stray or a person who does not own the land before?

Hi,
i want to sell some props. Just wonder can i deduct the gains to 2-3 props with cars that i will use to rent it lut

As the title said, looking for partner that sell me tax deed in AL, CA, OR